Chainlink (LINK) traded at $11.54 on August 26, 2026, after breaking through key resistance levels at $8.10 and $9.35. The rally was driven by the firm’s announcement that its infrastructure powers approximately 70% of the global DeFi market, supporting major protocols including Aave, Lido, Kamino, Compound, and Polymarket. Open interest grew from around $400 million in July to nearly $700 million in August, while significant short liquidations added momentum. On-Balance Volume rose during the breakout, confirming strong buying pressure. LINK briefly touched $12.50 before a slight pullback. Traders are watching whether the token can establish support above $11.
Chainlink (LINK) traded at $11.54 at press time on August 26, marking a 0.77% decline over the past 24 hours. The overall trend remains bullish following a recovery from the $8 area.
The firm highlighted that its infrastructure powers approximately “70% of the global DeFi market” and supports major protocols including Aave, Lido, Kamino, Compound, and Polymarket. This update strengthened the adoption narrative among investors.
From technical analysis, LINK broke above resistance levels at $8.10 and $9.35, which had previously prevented price increases. After clearing $9.35, the price surged to a local high of around $12.50 before pulling back slightly.
On-Balance Volume (OBV) rose substantially during the breakout period, indicating that buying pressure accompanied the price move. An increase in OBV alongside price is generally considered confirmation of underlying demand.
According to data from CoinGlass, open interest for Chainlink grew from around $400 million in July to almost $700 million in August. Trading volumes also grew significantly during the rally, indicating stronger participation from derivatives traders.
Liquidations data revealed significant short liquidations as LINK moved higher, forcing bearish traders to close positions and adding momentum to the breakout. LINK continues to trade above its critical breakout levels of $8.10 and $9.35, which could support the continuation of the medium-term trend.
Market players will likely watch whether LINK can form support above $11 and challenge the recent high of $12.50. Due to inherent volatility, traders are advised to monitor price action, market sentiment, and catalysts. This article contains market analysis and price predictions that are not guarantees. Crypto markets are volatile. Always do your own research. Not financial advice.
